Enterprise Procure to Pay System
Automated Quotations and Auction Processes
Since 1999... Managing millions of Assets
TRAXX is a comprehensive Fixed Assets Management Solution. We are implementing fixed asset management solutions since 1999. TRAXX is the evolution of many thousand man hours of development with feedbacks from some of the best fixed asset managers serving with our esteemed customers like GE, TESCO & HONEYWELL.
CartIQ covers the entire procure to pay processes in eight simple steps. This includes payment tracking.
Our procurement module simplifies the procurement process by allowing businesses to issue requests for quotes (RFQs) online. Suppliers can submit their quotes through the system, and businesses can review and compare quotes quickly and easily. This feature is ideal for businesses that want to simplify their procurement process and streamline supplier management.
Our tool allows businesses to run online auctions, where suppliers can bid for goods and services. This feature is ideal for businesses that want to negotiate the best prices and terms with their suppliers. With e-Auction, businesses can set the terms of the auction, including the start and end times, mininmum/maximum bid amounts. Suppliers can submit bids online, and the system will automatically calculate the lowest bidder.
Suppliers can submit their quotes through the system, and businesses can review and compare quotes quickly and easily. This feature is ideal for businesses that want to simplify their procurement process and streamline supplier management. It allows businesses to manage their suppliers more effectively by providing a centralized platform for RFQs and quotes.
TRAXX provides transparency throughout the bidding process, ensuring that all suppliers have an equal opportunity to bid. Transparency is a key aspect of the bidding process, as it allows all suppliers to see the same information and compete on an equal footing. Without transparency, it's easy for some suppliers to gain an unfair advantage, which can lead to biased decisions and suboptimal outcomes. With TRAXX, however, all suppliers have access to the same information, ensuring that the bidding process is fair and open.
Our web-based platform allows suppliers to access and manage their business interactions with you in one place. One of the key benefits of our vendor portal is that it helps in time-saving for both you and you suppliers.
By using a vendor portal, businesses can streamline their procurement process and reduce the amount of time spent on administrative tasks. For instance, instead of manually processing invoices, purchase orders, and other documents, businesses can automate these processes through the vendor portal. This saves time and reduces the risk of errors, allowing businesses to focus on more strategic tasks.
Better Value Through Increased Competition
By inviting multiple suppliers to bid on the same contract, businesses can increase competition and negotiate better prices.
Suppliers are competing for a contract, and are incentivized to provide high-quality products and services in order to win the bid. This can result in better quality products and services for the business, which can lead to improved productivity, increased customer satisfaction, and other benefits.
Moreover, opening up the bidding process to multiple suppliers can also help businesses to identify new suppliers and potential partners. It can also help businesses to build stronger relationships with suppliers, which can lead to better quality and more innovative products and services.
RFQ reports and price analysis are essential features of procurement software that provide businesses with valuable insights into supplier pricing and market trends. By using these features, businesses can make informed purchasing decisions, negotiate better deals with their suppliers. Ultimately, this can lead to cost savings, better quality products and services, and improved business outcomes. RFQ reports and price analysis can also help businesses to improve their supplier relationships. By providing suppliers with detailed feedback on pricing and market trends, businesses can help suppliers to improve their pricing strategies and identify areas for cost savings. This can ultimately lead to stronger relationships with suppliers, which can result in better quality products and services, more innovation, and other benefits.
TRAXX also provides security measures to protect the integrity of the bidding process. This includes authentication measures to ensure that only authorized suppliers can access the bidding platform, as well as encryption and data protection measures to ensure that bid information is secure and confidential.
Payment features are an essential component of our procurement to payment software, ensuring that vendors are paid accurately and on time, while reducing the risk of fraud and errors. With payment features in place, businesses can streamline their payment process and improve their relationship with suppliers
Vendors can participate in auctions. Their standing rank is displayed based on which they can bid
Vendor Portals are required for any company that works with multiple suppliers, as it provides an easy and secure way for the business and their suppliers to track orders, raise concerns and communicate, and ensure that both parties are on the same page.
VENDORS are linked online reducing cycle time. They can fill rates and terms. They can upload quotes. This reduces load on the procurement department.
Choose the RFQ for which auction has to be scheduled. Choose vendors who will participate in the auction. Finally, select the time window and date on which auction happens. This detail will be mailed automatically to each chosen vendor.
Vendors will receive a new link in their login. Clicking the link will take them to the auction screen. During the auction window, they will be able to alter the value or terms of the proposal previously submitted by them.
During the auction window, the system automatically refreshes the auction screen to display live ranking of each vendor. This helps them in altering their price to acheive better ranking.
AT the close of vendor auction, the system automatically redraws the comparison chart with the new price and terms each vendor submitted during the auction. Auction history also can be displayed for detailed analysis of the participation pattern.
Our Numbers Speak
Years of Experience
Our Esteemed Customers. Logos are their respective Trademarks.
Are You Ready for comprehensive Procurement to Retirement Automation?
Evolution is the best way to
TRAXX is the one of time-tested Asset
Management Systems with its first installation in 1999. This product is an evolution of over ten thousand man hours with feedbacks from some of the best asset managers serving for companies such as Bank of America, Honeywell, Deloitte, E&Y,GE and ANZ. With over 600 installations today, TRAXX is a highly perfected Asset Management Solution.